Is this a good IPO?
Everybody knows 99 Speedmart.. more chance than not you seen one near you..
Sometimes it is quite puzzling why did this company go public. 99 speedmart has good cashflow, I think is their free cash flow is almost as high as the amount they plan to riase. They don’t need the money and the rate of growth will be about the same whether they go IPO or not.
More over, owners only plan to give up 17% of the company only.
The company also has a high PE value, approximately 34.7.. That’s almost the PE value of retail giant, wallmart. Something for investors to consider.
Having said all of that, I do see the potential of this company as it is one of the fastest and biggest, if not the biggest and fastest growing mini market in Malaysia with room for further growth.
Just sharing my opinion. Not financial advice. What are your views?
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